44.89 F
London
February 23, 2025
PI Global Investments
Gold

Gold (XAU) Daily Forecast: XAU Rises to $2,365 as USD Hits Three-Week Low


Gold (XAU/USD) price attracts fresh buyers, rising to $2,365, its highest level since June 21, during the Asian session on Friday. This increase follows the recent range-bound price action and is driven by the market’s pricing in a higher likelihood of the Federal Reserve cutting interest rates in September and December due to softer US macroeconomic data.

Consequently, the US Dollar (USD) has weakened for the fourth consecutive day, hitting a three-week low, which supports the commodity’s price.



Source link

Related posts

Gold Terra to Present at the Battery & Precious Metals Virtual Investor Conference July 23rd

D.William

Sweden take Women’s Ice Hockey gold against Japan at Winter Youth Olympic Games Gangwon 2024

D.William

Cheltenham Gold Cup-winning trainer Mark Bradstock dies just days after poignant final win

D.William

Leave a Comment

* By using this form you agree with the storage and handling of your data by this website.